New Delhi: After yesterday’s steep decline, the signs of foreign markets are good for Indian markets today. SGX Nifty is open with a strength of 40 digits. US futures markets are also open at a slight edge. Dow Futures is close to 40 points and Nasdaq Furures almost flat.
Talk about Asian markets, all markets are trading in red mark only. Japan’s Nikkei is trading down by 50 points, China’s Shanghai Composite is almost flat and Hong Kong’s Hang Seng is down more than 100 points.
How were foreign markets on Monday
Like Indian markets, on Monday, the American markets also saw a huge decline. The Dow Jones lost 650 points and closed below 27670. The S & P500 lost 64 points and the Nasdaq fell by 190 points. Monday has been the worst day for US markets since September 3. Dow Jones lost about 1000 points in intraday and a recovery of 300 points in the last hour. European markets also saw a decline of up to quarter to 4 percent yesterday. Germany’s market DAX broke 3.71 percent, while France’s CAC40 broke down about 2 percent and London’s FTSE more than 1 percent.
Signal from overseas markets
Concern has increased in the US due to the sharp increase in the number of Corona patients, due to which the US market fell. The election, the uncertainty of the Stimulus package, also saw huge fluctuations. Here, the White House has issued a warning regarding Corona. The White House has said that the Corona epidemic is difficult to control and will continue to be a problem until the vaccine arrives. Only the security protocol can prevent the corona from spreading. Today in the US markets, the results of big companies like Microsoft, Pfizer, 3M, BP will come.
Investors are also eyeing the IPO of Ant Group, a company of Alibaba Financial Services. The company plans to raise $ 34.5 billion through the issue. Crude oil fell more than 3 percent yesterday, the price of Brent crude is hovering near $ 40. But gold has shone, once again the price has crossed $ 1900
According to Anil Singhvi, managing editor of our associate channel Zee Business, today the support range for the Nifty will be 11650-11700 and the upper range will be 11875-11900. There is a 23450-23550 support range for the Bank Nifty, 24350-24550 is the upper range.